Is Incurring a Significant Debt Worth It?
College graduates make 84% more than high school graduates. What is the chance that you will be apart of the 16% exception. People have always contemplated whether or not obtaining a college degree would be enough to make a person take on heavy student loans. And I can ensure you that going to a postsecondary institution to get a college degree is worth it. Having a college degree trumps debts.
One reason that I think it is much more beneficial to get a college degree rather than not to is because the lifetime earnings of college graduates are higher than those that are without a college degree. To put things into perspective, even when those that have large student loans pay them off they still would have made more earnings than those that did not. According to the U. S. Census Bureau, there is a significant difference in the amount of money that college graduates make versus those that do not obtain a college degree. "High school dropouts acquire approximately $18, 734. High school graduates acquire approximately $27, 915. College graduates obtain nearly $51, 206, and those that go on to gain professional/ advanced degrees earn a whopping $74, 602" (How Much More Money Do College Grads Make). Though making a few more thousand dollars may not sound enticing enough for some people, I am sure if your employer were to take just $20 off of your pay, it would be of a bother to you.
Not only do those that obtain a college degree earn more money, they also obtain jobs easier and they tend to be happier in whatever career they decide to pursue. As seen on CNN's website, "Of the 11. 6 million jobs created after the Great Recession, 8. 4 million went to those with at least a bachelor's degree. Another 3 million went to those with an associate's degree, or just some college certification" (Luhby). Employers want to fill their companies with the best of the best and a college degree is the difference between you and the next applicant. Just by having a degree they are already given the upper hand.
Not only do they benefit more financially, but they benefit in their family lives as well. Within the article on the Huffington Post, it states that, "Citizens with postsecondary credentials not only contribute to the economic prosperity of communities; they also l...